Which of the following aspects of Elliott Wave Theory is FALSE?

a.

There is no relationship between waves 1, 3, and 5

b.

Motive waves have a corrective 3 wave pattern

c.

Channel lines can be drawn to project a target of wave 5

d.

Corrective waves are often Fibonacci levels of 38.2%, 50%, or 61.8%

e.

Wave 2 cannot be lower than wave 1

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Which of the following is a correct interpretation of volume?

a.

In an uptrend, volume should increase on down days

b.

In a downtrend, volume should increase on up days

c.

Volume is secondary to price

d.

Price precedes volume